Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) by 1,433.3% in the 1st quarter, Holdings Channel reports. The firm owned 460 shares of the information technology service provider’s stock after acquiring an additional 430 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cognizant Technology Solutions were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Cognizant Technology Solutions by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock valued at $266,000 after purchasing an additional 124 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Cognizant Technology Solutions by 29.4% during the first quarter. Park Avenue Securities LLC now owns 6,911 shares of the information technology service provider’s stock valued at $620,000 after purchasing an additional 1,572 shares during the last quarter. Ascent Group LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $600,000. NN Investment Partners Holdings N.V. grew its holdings in Cognizant Technology Solutions by 2.3% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 86,746 shares of the information technology service provider’s stock worth $7,695,000 after buying an additional 1,909 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Cognizant Technology Solutions by 80.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 106,535 shares of the information technology service provider’s stock worth $9,452,000 after buying an additional 47,359 shares in the last quarter. 90.73% of the stock is owned by institutional investors.
Cognizant Technology Solutions Price Performance
Shares of NASDAQ:CTSH opened at $68.22 on Tuesday. Cognizant Technology Solutions Co. has a one year low of $63.26 and a one year high of $93.47. The stock has a fifty day moving average of $69.44 and a 200-day moving average of $80.12. The company has a market capitalization of $35.55 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.22.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.5 EPS for the current fiscal year.
Cognizant Technology Solutions Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Friday, May 20th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.58%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 25.90%.
Insider Activity
In other news, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total transaction of $423,112.80. Following the completion of the sale, the director now owns 57,534 shares in the company, valued at approximately $4,280,529.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael Patsalos-Fox sold 5,687 shares of the stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the completion of the sale, the director now owns 57,534 shares in the company, valued at $4,280,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Stafford sold 5,867 shares of the stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $77.24, for a total value of $453,167.08. Following the completion of the sale, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on CTSH shares. JPMorgan Chase & Co. decreased their price objective on Cognizant Technology Solutions from $97.00 to $82.00 in a report on Wednesday, July 20th. Citigroup decreased their price objective on Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday, May 5th. Barclays decreased their price objective on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, July 19th. Cowen decreased their price objective on Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Finally, StockNews.com lowered Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Moderate Buy” and an average target price of $87.15.
Cognizant Technology Solutions Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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